HJR 49 -- Limits on State Appropriations

Sponsor:  Lager

This proposed constitutional amendment prohibits appropriations
in any fiscal year from exceeding the total state general revenue
appropriations from the previous year by more than the
appropriations growth limit.  The appropriations growth limit is
the greater of zero or the sum of the annual rate of inflation
and the annual Missouri population growth.

For any fiscal year in which the net general revenue collections
are in excess of 1% above the authorized net general revenue
appropriations allowed, in equal amounts, the excess is to be
transferred to the Cash Operating Reserve Fund and the Budget
Reserve Fund.  Any revenue in excess of the specified limits of
the funds will be refunded, pro rata, based on tax liabilities
reported in the tax year in which the fiscal year ended.

Total state general revenue appropriations may exceed the
appropriations limit only if the Governor declares an emergency
and the General Assembly approves appropriation bills to meet the
emergency.  The funds appropriated to meet the emergency will not
increase the appropriation limit for the succeeding fiscal year.

One-half of the balance in the Budget Reserve Fund is to be
transferred to the Cash Operating Reserve Fund.  The Cash
Operating Reserve Fund's maximum balance is three and
three-fourths the net general revenue collected in the previous
fiscal year.  Funds in excess of the maximum balance will be
transferred to the General Revenue Fund.

In any fiscal year in which the Governor reduces expenditures
below amounts appropriated, the Governor may request an emergency
appropriation from the Budget Reserve Fund.  If the request is
approved by the General Assembly, funds may be restored to any
expenditure authorized by existing appropriations.  The Budget
Reserve Fund's maximum balance at the end of a fiscal year is 5%
of the net general revenue collections for the previous fiscal
year.  Funds in excess of the maximum balance are to be
transferred to the General Revenue Fund.  If the balance in the
Budget Reserve Fund at the end of a fiscal year is less than 5%
of the net general revenue collections for the previous fiscal
year, the difference will be transferred from the General Revenue
Fund.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:16 am